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Torq Completes $4.5 Million First Tranche of Private Placement

March 01, 2022 at 19:25 PM EST

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

VANCOUVER, BC / ACCESSWIRE / March 1, 2022 / Torq Resources Inc. (TSX-V:TORQ), (OTCQX:TRBMF) ("Torq" or the "Company") is pleased to announce that it has completed a C$4.5 million first tranche of its $5 million non-brokered private placement of $0.75 equity units, the amended terms of which were announced February 15, 2022. The Company intends to use the net proceeds to fund exploration at the Company's portfolio of projects in Chile, for ongoing project costs and for general working capital.

A Message from Shawn Wallace, Executive Chair & Director:
"I would like to thank shareholders and all those who are participating in our financing for their patience and support during this unforeseen turbulent time. We are looking forward to advancing our flagship Santa Cecilia gold-copper project to drill stage in the coming months."

ON BEHALF OF THE BOARD,
Shawn Wallace
Executive Chair

For further information on Torq Resources, please contact Natasha Frakes, Vice President of Communications at (778) 729-0500 or info@torqresources.com.

About Torq Resources
Torq is a Vancouver-based copper and gold exploration company with a portfolio of premium holdings in Chile. The Company is establishing itself as a leader of new exploration in prominent mining belts, guided by responsible, respectful and sustainable practices. The Company was built by a management team with prior success in monetizing exploration assets and its specialized technical team is recognized for their extensive experience working with major mining companies, supported by robust safety standards and technical proficiency. The technical team includes Chile-based geologists with invaluable local expertise and a noteworthy track record for major discovery in the country. Torq is committed to operating at the highest standards of applicable environmental, social and governance practices in the pursuit of a landmark discovery. For more information, visit www.torqresources.com.

Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". Forward-looking information is information includes the statement that completion of the financing is imminent as risks to completion include the unknown effects on capital markets of potentially escalating European political tensions and the enforceability of executed subscription agreements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Torq Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/691026/Torq-Completes-45-Million-First-Tranche-of-Private-Placement